Bosh targets ₹1,700 cr investment in IoT in India

The Bosh, the German tech major, which built its empire in India by selling auto components, is now betting big on shifting its focus on technologies like AI and IoT as it sees the consumer shift in the segment and has decided to invest ₹1,700 crore in the next three years as it also hedging its opportunities in both electric, diesel vehicles, Chairman of the Board of Management, Bosch Group, Volkmar Denner, who is currently visiting India, said, elaborating that here in India, the transformation of Bosch into a leading IoT company is especially evident and the company has been investing heavily to drive this forward. Main growth for the company came from opportunities in diesel technology, electro-mobility, connected mobility and the government's initiatives for connected manufacturing and connected cities. In line with this change, the Adugodi plant in Bengaluru is being revamped from a manufacturing facility into a technology hub with investments of ₹370 crore in the last three years and more than eight lakh electric vehicles (EVs) on the road worldwide contain Bosch components. Simultaneously, Bosch has set up an AI centre in Bengaluru, and a Connected Mobility Solutions division in India too, with an intent to shape the mobility of the future from a technology and standards perspective.